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BofA Merrill upgraded National Grid (NYSE:NGG) from Neutral to Buy in a report released today.

Al Wild

BofA Merrill has upgraded National Grid (NYSE:NGG) from Neutral to Buy in a report released on Monday May 15, 2017.

Previously on 5/12/2017, Berenberg Bank reported about National Grid (NYSE:NGG) lowered the target price from $307.00 to $297.00. At the time, this indicated a possible upside of 3.43%.

Yesterday National Grid (NYSE:NGG) traded 0.72% higher at $66.98. NGG’s 50-day average is $64.63 and its two hundred day average is $60.88. With the last stock price close up 10.81% relative to the two hundred day average, compared with the S&P 500 Index which has increased 0.02% over the date range. Volume of trade was down over the average, with 177,624 shares of NGG changing hands under the typical 541,562

Performance Chart

National Grid (NYSE:NGG)

With a total market value of $0, National Grid has price-earnings ratio of 19.33 with a one year low of $56.50 and a 52 week high of $74.97 .

In addition to BofA Merrill reporting its stock price target, a total of 2 brokerages have issued a ratings update on the company. The average stock price target is $71.67 with 0 brokerages rating the stock a strong buy, 1 brokerage rating the stock a buy, 2 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.

Brief Synopsis On National Grid (NYSE:NGG)

National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company's segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain's gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York. Its other activities relate to non-regulated businesses and other commercial operations not included within the above segments.

The post BofA Merrill upgraded National Grid (NYSE:NGG) from Neutral to Buy in a report released today. appeared first on Breaking Finance News.

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